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Demystifying the supply of capital and labour in a nation’s economic chain
journal contribution
posted on 2010-12-01, 00:00 authored by Jie Zhou, David Picken, Chunlu LiuChunlu LiuPublic capital has been considered to be the wheels of economic activity in a nation or region. The reverse effect, the contribution of economic growth to public capital, is also worth analysis. The non-structural vector auto-regression (VAR) approach is performed for the Australian economy using yearly data for the 1960-2008 period. The optimal lag is investigated to build the VAR model that is then tested for stability. The impulse response function is further employed to examine the response of one economic variable to the innovation of others and to determine the lagged terms for the maximum absolute value of the other variables’ responses. The results will provide historical evidence for the federal and regional governments of Australia to estimate the effects of these production variables, in particular, the effect of infrastructure spending on the gross domestic product.
History
Journal
Journal of sustainable developmentVolume
3Issue
4Pagination
30 - 37Publisher
Canadian Center of Science and EducationLocation
Toronto, CanadaISSN
1913-9063eISSN
1913-9071Language
engNotes
Reproduced with the specific permission of the copyright owner.Publication classification
C1 Refereed article in a scholarly journalCopyright notice
2010, Canadian Center of Science and EducationUsage metrics
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